CFO Leads Cannabis Company to IPO

The global market for legal marijuana is valued at $17.7 billion as of 2019, and Grand View Research says that number is expected to rise to $73.6 billion by 2027. A quickly evolving market, more interim and project-based executives are being called on to lead the charge.

U.S. legal marijuana market

Jon Paul started his career at Arthur Anderson in the seventies then moved to multiple Chief Financial Officer positions, before getting on the cannabis bus in 2018 when he was recruited to take San Francisco-based gummies company, Plus Products, public.

Cannabis industry newsletter Grown In interviewed Jon Paul about the challenges involved in taking a company to a listing on the Canadian Stock Exchange. 

Read More
How to Successfully Market a Product No One Wants to Buy

There are marketing challenges, and then there is the challenge of marketing a product no one wants to admit they use, much less talk about it in public.

Enter Whitney Vosburgh. He’s an expert, interim Chief Marketing Officer who believes that building community can be a successful marketing strategy.

It worked for ConvaTec, a company that makes something no one ever wants to buy (but many people have to): colostomy and ostomy pouches. Those are the bags used by people who have a bowel blockage, which means they must eliminate bodily waste outside their body. It’s collected in pouches like the ones made by ConvaTec.

Not surprisingly, this is not something people want to chat about with strangers. But, Vosburgh hypothesized, putting them in a room with others facing the same challenges could make all the difference.  

Read More
How Company Owners Can Still Win in the Current M&A Market

The COVID-19 pandemic and global economic lockdown has seen merger and acquisition (M&A) activity plummet. From $3.9 trillion in global takeovers in 2019, announced deals plunged 51% in the first quarter in the US according to Refinitiv. Uncertainties in the business and capital markets have led to buyers delaying or cutting back on their acquisition plans. But with crisis comes opportunity. Those able to navigate the new risk landscape may find compelling deals on the other side of the pandemic. Now more than ever, expert help with strategic planning, modelling out “what if” scenarios when the world frees up from lockdown, and preparing better for post-acquisition merger integration can help owners succeed in acquiring or being acquired.

Read More
How To Reverse Merge Into a Public Shell

When it’s time for a private company to go public, or fundraising is needed on a large scale, an IPO is not the only option. There’s also a less-well-known and, until recently, less-well-respected option: a reverse merger into a public shell oftentimes called an Alternative Public Offering (APO).

This process, which can be faster and cheaper than a traditional Initial Public Offering, is growing in popularity and might grow faster in our confusing coronavirus world.

Scott Jordan (no relation to InterimExecs’ CEO Robert Jordan), an investment banker and CFO who spent 30+ years working in biotech, engineered a reverse merger of a biopharma company in 2019. He says that while the virus has caused capital flow interruptions, investors in the private markets are still providing capital to companies with novel / scientifically validated biotechnology companies. That means reverse mergers and PIPEs (Private Investment in a Public Entity) can still raise money needed to complete their deals. He estimates that about 20 biotech firms debuted in the public markets last year as a result of reverse mergers and the number is on track to repeat in 2020, despite the virus.

But let’s back up a step and begin at the beginning.

Read More
Your Complete Guide to Launching a Search Fund

As the incredible success of private equity over the past couple decades has made clear to many aspiring company owners and investors, if you can find and acquire a decent company, its possible to earn great returns. This has fueled a new class of individuals seeking to launch their own search funds. What exactly is a search fund and how do you become successful at it? Let’s explore.

The Stanford Graduate School of Business Center for Entrepreneurial Studies explains search funds this way: “The model offers relatively inexperienced professionals with limited capital resources a quick path to managing a company in which they have a meaningful ownership position.”

Inexperienced professionals? Limited capital resources? It doesn’t exactly sound like a recipe for success.

But it can be.

Read More
What is the Role of Human Resources During a Crisis?

Can “good” HR be a strategic advantage in a crisis?

Through the largest and longest bull market in history, many business leaders continued to dismiss the human resources (HR) function as an operational, and largely administrative function. HR’s activities can appear to be – and often are – disconnected from the “real work” of an organization. But effective HR leadership is so much more, and can be a strategic advantage as businesses deal with the COVID pandemic. Let’s unpeel the several roles of HR to better understand how it can contribute.

Read More
How Companies Can Stay Ahead of Rising Cyber Security Threats

There are plenty of new challenges to keeping a company afloat while the world endures the 2020 coronavirus pandemic. Here are just a few: 

  • Applying for government assistance to keep paying payroll. 
  • Developing a work-from-home system for employees following stay-at-home orders. 
  • Working out accommodations and new digital venues with customers and suppliers that will help everyone come through a cataclysmic crisis still in business. 

Add to the list a new one: Cyber security threats.  

InterimExecs RED Team executive and CISO, Zeeshan Kazmi, says times like these are prime for opportunistic hackers. 

Just look at financial technology company, Finastra, to see a cyber security nightmare in action. After coronavirus hit, the company was in the middle of developing an emergency plan to operate when hackers found a backdoor into their servers. Malware quickly spread locking down server after server on their network, taking down many of their customers which include 90 of the world’s top 100 banks.   

“We haven’t taken cyber security threats as seriously as they should be taken,” says Kazmi, who has spent 15 years working in the cyber security space. “Companies have been reactive. They protected their business transactions and their reputation. It became a corporate risk management function.” 

Read More
The COVID Battle on the Manufacturing Floor & The Future of Our Global Supply Chain

The reach of coronavirus in the manufacturing sector has been vast. A survey by the National Association of Manufacturers revealed that 78% of manufacturers anticipate a financial impact, 53% foresee a change in operations, and 36% are experiencing disruptions in their supply chains. The Federal Reserve reported that in March production fell 6.3% in the manufacturing sector – the largest drop since 1946. This has everyone asking what the short and long-term impacts look like as major economies around the world seemingly come to a halt to curb the spread of the virus.

Manufacturers everywhere are running into cancellation of exports, delayed payments, and disruptions in logistics. Economist Larry Hu told Bloomberg “The worst is yet to come for exports and supply chain. For the whole year, China’s exports could easily fall 10% or probably more.” Meanwhile the world is grappling with how to deal with supply chain break downs and inventory shortages of critical medical equipment. The US government reportedly has almost depleted it’s emergency stockpile of masks, respirators, gloves, and gowns.

Still — essential companies such as ones producing food, medical supplies, or supporting necessary infrastructure and distribution of supplies are up and running. Leaders of these companies face a whole new realm of challenges as the health of workers and creating and maintaining a safe environment become top concerns.

Read More
46 Predictions on How the Pandemic of 2020 Will Change the Business World

World War II was devastating Europe. Bombs unleashed death and destruction across London. The Allies could barely secure a beach head in Normandy. Undaunted in those dark days, visionary leaders dreamed of a brighter future when the world would emerge from the deadly carnage, and imagined the structure of a post World War II world.

Businesses throughout the world now confront a different kind of mortal enemy, but equally deadly and disruptive in its own way. This microscopic virus is virtually invisible, knows no borders, and is agnostic to any demographic. It confines us all to our homes, burying loved ones dying senselessly for no cause and way too soon, and upending our work and home lives. Just as our forbearers prepared for a new world order once the terror of their present one surrendered, we now have some time to humbly roll up our sleeves and get ready for what awaits us on the other side once the pandemic is finally vanquished.

 Many of the thoughts in this article are hardly novel, and really simply continue if not accelerate existing trends. Some ideas may seem like logical outgrowths of the pandemic provided they remain emblazed in our consciousness. Others may be dismissed as unrealistic or overly dramatic and alarmist.

 No one, however, can doubt a few things. Our lives and approaches to work, our society and business will change, some for the better, others not. Like inventions, there are unintended consequences and manifestations, many of which we cannot now foresee. Finally, and most obvious as we emerge from this Act of God–  man may make plans, but God just laughs.

Read More
How COVID-19 Is Accelerating Your Company’s Digital Transformation

The COVID-19 pandemic has changed our lives in ways that seemed unimaginable just a short time ago. Within a matter of weeks schools have been shuttered, sporting events and conferences have been canceled, air travel has ground to a halt, over 16 million workers have been laid off, and those able to work from home are now doing so almost exclusively.

Commentators are already proclaiming that coronavirus will permanently change the world. Many of the expected shifts, however, are hardly new. They were nascent prior to coronavirus and emerging stronger than ever due to the pandemic-led paradigm shift.

Nowhere is this more evident than in the migration to remote work and the technologies that enable it. In the United States almost a quarter of employed individuals already were working remotely, and while this trend has steadily increased over the past decade, with coronavirus forcing millions to work remotely, we may have reached a tipping point.

If remote work is indeed the new normal, how can businesses embrace it? Alonso Vargas and Andrew Andrews-Ramirez provide digital transformation, helping organizations with everything from ERP implementation to outsourcing, to migrating to cloud technology, utilizing platforms including NetSuite, SAP, Salesforce, Hubstaff, and Office 365. They have seen a shift in how organizations are operating and have keen insights into how companies can get ahead in the digital curve.

Read More